Japanese investment firm Metaplanet has announced an ambitious $5.4 billion plan to significantly increase its Bitcoin (BTC) holdings to 210,000 BTC by the end of 2027, representing approximately 1% of the total Bitcoin supply.

Accelerated Strategy and 555 Million Plan

CEO Simon Gerovich described the initiative as “Asia’s largest-ever equity raise to buy Bitcoin — again!“, reflecting the company’s aggressive expansion into the cryptocurrency market. The new strategy, dubbed the “555 Million Plan,” involves issuing 555 million shares utilizing moving strike warrants.

A moving strike warrant grants investors the option to buy shares, with the exercise price dynamically adjusting based on the company’s stock performance over a predetermined period. This structure offers greater investor flexibility compared to fixed-strike options.

By implementing this approach, Metaplanet aims to raise capital gradually over the next two years without exerting immediate pressure on the stock market or existing shareholders.

Allocation of Funds and Holdings Targets

The capital raised will primarily be allocated towards purchasing Bitcoin. Additional uses are expected to include strategically managing the firm’s bond portfolio and implementing income-generating options strategies.

Previously targeting 10,000 BTC by end-2025, the revised plan outlines increasingly ambitious targets: 30,000 BTC by end-2025, 100,000 BTC by end-2026, and 210,000 BTC by end-2027.

Reaching 1% of the 21 million Bitcoin circulating supply would place Metaplanet in the “Bitcoin 1% club,” joining other significant long-term holders.

Progress and Market Reception

Metaplanet already demonstrates progress towards these goals. As of June 2025, reported holdings stood at 8,888 BTC, acquired at an average cost estimated around ¥122.2 billion ($849 million), representing near-achievement of its initial 10,000 BTC target.

This follows the success of its prior “210 Million Plan,” which raised approximately ¥93.3 billion ($650 million) within 60 trading days by issuing 210 million shares.

Funding the previous round accelerated BTC holdings from 1,762 units to 7,800 BTC, while metrics like the BTC Yield (corporate BTC holdings divided by the number of shares outstanding) increased significantly.

Year-to-date BTC Yield stands at 225.4%.

Monetary gains appear mirrored in marketSENT: the stock price has increased by approximately 275% year-to-date through early 2025.

Metaplanet is now ranked as one of the most actively traded Tokyo Stock Exchange-listed securities and is listed among the globally top ten corporate holders of Bitcoin, currently surpassING Block Inc. (Jack Dorsey’s company).

Strategic Vision

Gerovich and Metaplanet leadership frame this strategy as part of a broader transformation in capital markets.

By establishing an equity vehicle dedicated to holding Bitcoin on the regulated Tokyo Stock Exchange, the firm aims to provide institutional and retail Japanese investors, often constrained from direct Bitcoin access, a permitted route to exposure.

A company statement asserted, “Bitcoin is repricing the global cost of capital.” “Through our 555 Million Plan, Metaplanet is doubling down on an equity-driven capital markets strategy to accelerate our Bitcoin accumulation trajectory,” they added.